As a product digitizes, it becomes more accessible and it moves faster and the digitalization of energy is no exception. With the Industrial Internet of Things (IIoT) taking place, it promises to digitalize much of the world’s industrial processes which includes power generation, transmission, and distribution. This means that physical infrastructures will integrate with the digital ones. The result of this will be an improvement in economic, environmental, and social outcomes across humanity’s fundamental systems, none of which is more vital than the digitalization of the energy sector.
The digital transformation of utilities can improve the efficiency of generating, transmitting and distributing electricity, all while providing consumers with more capabilities and choices around their energy use. Digital tools also enhance operation throughout the electricity value network which increases grid reliability and security, and reduces the cost to generate, transmit, and deliver electricity. As a result, our energy infrastructure is getting smarter and the main beneficiaries are people and the planet.
General Electric (GE), which creates a third of the world’s electricity, is no exception to this rule. With 40% of the world’s energy managed by their software, we can already see better outcomes for electricity producers, end consumers, the economy, and the environment. To learn more about GE’s digital future, you can read their whitepaper by clicking here.